Chapter 754: It’s too unreasonable.

"... After signing the contract, in the next eight years, espn will receive the exclusive rights to broadcast the nfl weekly league and the rights to broadcast the two Super Bowl finals in 1998 and 2001. At the same time, espn will also receive the official event section broadcast rights. The audience will be completely legal to record the nfl league through the video recorder. We can publicly publicize this power to the user through the TV channel." In the conference room, espn president Steve Bernstein introduced the negotiation results with the National Football League and then looked at it. Everyone is present. 》. 》
Although he has received Eric's support, he must also persuade other shareholders of Firefly in accordance with Eric's request.
With the absolute controlling interest in the hands, although Eric can make a decision alone, he does not want to have too much disagreement with other shareholders of the company in these matters, which is not conducive to the stable development of fireflies.
Tom Murphy, who had just stepped down as the television department ceo, had been reading the documents in his hand. Steve Bernstein briefly stated that he looked up and first asked: "Steve, espn has already owned the industry. Absolutely leading market share, and has become the preferred TV station in sports fans. So, do you think we still have to pay more than 50% premium, signing an eight-year high-risk contract to win the exclusive broadcast rights of the nfl event?

Steve Bernstein replied: "Mr. Murphy, although espn's current market share is far ahead, it does not mean that we can rest easy. In recent years, competitors such as nbc, cbs and fox have begun to increase. The investment in sports channels, even if espn has an absolute advantage, but if this situation continues, our market share will be gradually eroded by other TV networks, and slowly lose this absolute advantage."
Tom Murphy still shook his head slightly, saying: "Steve, I didn't see the relevant report. It sounds more like your personal speculation, and some are too alarmist. The industry advantage of a TV station is not so It is easy to be broken."
Steve Bernstein argued: "Mr. Murphy, I am not alarmist. There has been a very obvious example in recent years. We all know that cnn has been in the news channel industry since its birth in the 1980s. Espn's position in the sports channel is very similar. But in the past few years, Fox News has come to the fore. The news channel, which was established less than five years ago, is supported by News Corp.'s strong world media network, and its market share has reached 50% of CNN. According to this growth rate, Fox News Network can achieve the same level of driving with CNN before 2000. The industry status of espn is actually easier to break, as long as other media groups have enough courage to constantly steal the rights of broadcasting in our hands. The decline of espn is completely predictable. Therefore, a one-time buyout of an exclusive broadcast rights agreement for eight years can cut off the possibility of other similar sports channels robbing broadcast resources, which guarantees that within the next eight years, We no longer have to worry about being threatened by other competitors."
Warren Buffett also said at this time: "Steve, or talk about the expected benefits, you mentioned in the report that after the nfl exclusive broadcast rights, espn average annual subscription share will increase by 20%, According to this growth rate, in less than five years, the average user subscription price of espn will exceed $2, which is ten times the average subscription price of ordinary cable TV stations. Do you think the audience will accept it?"
"Mr. Buffett, this price increase is a long-term process, and we are not directly targeting subscribers. We are cooperating with cable operators. On the other hand, the basis for negotiation between espn and operators is mainly the ratings. If we have the exclusive rights to broadcast the event, then the audience will have no choice but to watch the nfl sports event in espn. Then, with the increase of espn ratings, it is inevitable that the subscription share will rise, and the operators have no other. select."
Buffett nodded after listening to the smile and looked at another director of the Firefly System. David West, president of State Street Global Fund, shrugged with a smile and said: "After listening to Steve. I have no reason to object to this agreement."
Eric finally looked at Tom Murphy, and Tom Murphy nodded slightly. He was always a conservative operator, but this time, although he still felt that the plan was too risky, he realized This kind of adventure is very worthwhile compared to the possible benefits.
"In this case, the plan is thus determined. The company will inform everyone on time for the follow-up signing," Eric said. "So, since everyone is here today, let’s talk about this opportunity. The financial situation of the group in the third quarter, Caroline?"
Eric said, looking at the group's chief financial officer Carolyn Eliot, Caroline Elio nodded and opened the documents in front of him.
At the end of the morning meeting, Eric and Kasenberg invited the Buffett to have lunch at the abc headquarters restaurant. When he left, Buffett took Eric Kara to the side and said: "Eric, there is time next Thursday. ?"
Eric had some doubts and thought about it. Next Thursday is November 2, his schedule has not yet reached that day, so he nodded and said: "Of course, Warren, I will probably stay in New York until November 10 Day, you know, after the end of the big show.
"It is like this. When there is a party, some of my old friends, everyone wants to see you, don't you know that you are not interested?"
At the gathering of Buffett's old friends, Eric immediately remembered the famous Graham disciple gathering in the investment world. The famous economist Benjamin Graham was revered as the 'father of modern securities analysis', and his status is equivalent to the love of the physical world. Instein, Buffett was once a student at Columbia University, and then Buffett personally organized the famous Graham discipleship party. The party was the top entrepreneur, banker and fund manager in the US investment industry. .
As the personal industry continues to expand, Eric knows that the intersection of his company and these capital industry predators is inevitable. Buffett will not invite outsiders to participate in such internal gatherings. Since he has sent him an invitation, Eric will certainly not be stupid to refuse. Even if he will not cooperate in the future, it is absolutely beneficial to get acquainted with these people.
After thinking about it, Eric said again: "Warren, can I bring my companion?"
Buffett smiled and said: "Of course no problem, this is not a formal gathering, everyone will bring a female companion."
Eric shook his head and said: "No, not a female companion, I mean, one of my good friends, Chris Hansen, who is now helping me in charge of the Firefly Investment Company."
The gathering of such investment tycoons will not be too much for Eric's direct help, but it will definitely allow Chris to reap unexpected resources, so Eric soon thought of him.
Buffett made a little indulge and nodded. "No problem, it is also a very good young man."
Say, Buffett took out a memo and quickly wrote an address and handed it to Eric, saying: "Next Thursday, at seven o'clock in the evening."
Eric took it over and nodded. "Of course, we will attend on time."
After leaving Buffett and others on the train, Eric returned to the abc headquarters building with Kasenberg.
He stayed in Manhattan for two more days. On October 31, the day before Halloween, Eric rushed back to Hampton on time.
East Hampton is basically a resort town. After the summer and autumn, most people will return to Manhattan and other places of residence. Women and children will move to the densely populated Southampton before Halloween, although the estate here is more than East Hampton. It's much smaller, but there are a lot of permanent neighbors, and it will be very lively during the holiday season.
Driving into the manor, Eric got off into the villa, and the twins sitting on the sofa in the living room watching TV greeted him. It seems that Drew also came to New York. MGM’s stock issuance is scheduled for December 9. MGM President Frank Makasso basically stayed in New York during this time. Shantou has just arrived today, except for Halloween, which should also be related to this matter.
With the help of the twins, the windbreaker was taken off. Eric looked at the two women and asked, "How is it so deserted, Drew, and others?"

The boss and Ms. Pakula went out shopping, and Ms. Madsen took the lady and the young master upstairs.

"Oh, then you can continue watching TV," Eric said, changing his shoes and heading upstairs.
A living room door in the morning on the second floor was open, and Eric walked in and saw that Virginia was sitting back to himself, as if holding a book and reading something, surrounded by three little guys.
Laughing and walking over, grabbed Virginia and kissed the woman in the whisper.
"Ah, you scared me," Virginia said in Eric, laughing.
Eric squatted on the arm of the sofa and looked at the book in the hands of Virginia: "What are you reading?"
Vegniya gestured to Eric for the cover, which is still a British Encyclopedia.
Eric shook his head and looked at the three little guys. Hawaii was closest to Virginia. The beautiful nephew sparkled and seemed to be waiting for Virginia to continue reading. The other two were a little embarrassed. In appearance, Emma also looked to Eric for help, and her eyes were watery, and it seemed that she would cry out at any time.
"Don't you want to listen, come, Dad will take you to play," Eric reached out to the three little guys, Hawaii did not move, Emma and Kevin cheered and rushed up.
Virginia didn't want to, and pulled Eric: "Hey, you brought Emma to play, Kevin left, I only read three pages."
Eric is helpless: "Do you think my son can understand?"
Vegniya still doesn't let go: "But summer and summer will read it myself, and Kevin can't fall too far."
"You don't want to toss your child. The two-year-old little guy can understand anything. You also expect Kevin to test Harvard when he is three years old."
"But summer and summer will read it myself," Virginia said, muttering again. With a bit of grievances in his eyes, he looked at Eric with hatred: "You are eccentric, so smart in summer and summer."
Eric is helpless: "It's too unreasonable. Is the IQ of the little guy controlled by me?"
"In any case, you are eccentric!" Virginia was even more aggrieved. He threw the "Encyclopedia Britannica" in his hand at Eric's feet and turned his back to Eric. The whole man shrank on the sofa. (To be continued.)